While online trading is still in an embryonic stage in the Philippine setting, the functional equivalent of “an ounce of prevention is worth a pound of cure” means recognizing risks posed by “Incursion scams” and taking the necessary security measures to prevent from falling victim to these predations. Here is an important excerpts from the Reuters,
``Crooks will load a victim's computer or a public PC with a spy program to monitor a user's activities and capture vital information, such as account numbers and passwords.
``The program then e-mails the stolen information back to the thief, who can use it to open victim accounts.
``Once inside, the thief may sell off an account's portfolio and take the proceeds. Or electronically hijacked accounts may be used for "pump-and-dump" schemes to manipulate stock prices for profit, Ricciardi said.
``Public computers in such places as Internet cafes and hotel rooms are especially vulnerable to incursions. But home computers may also be hit as spyware can be imported simply by opening an e-mail attachment, said John Stark, chief of the SEC's Office of Internet Enforcement...
``Steps to fight incursions include securing an online account by changing passwords frequently and never using an unfamiliar computer to enter an account number or password.”
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